ONE of the esteemed functions of the Church is to handle affairs or?concerns of its members and King David in Psalms 138:8 said ‘The Lord?will perfect that which concerns me…’
Does insurance concern a church?member? Certainly it does as will be illuminated below!?Cognisant of this venerated function I think the Church is a paramount?distribution point of insurance which is a need that arises primarily?from the law of the land or voluntarily by recognising the need to?protect one’s assets.
I am alive to the fact that some theologians may scold me on why I?should marry the insurance topic with faith matters.
Well rather than?delving into that debate I request my readers to be patient with me?and follow my discussion to the last point.
As you read on this article you will realise that insurance is not?just about protecting oneself against accidents or unfortunate events?but there are other valuable products such as education, savings and?investment policies.
One of the renowned church leaders in our country requested me to talk?to the youth group about savings through insurance companies, a topic?I have discussed on this platform.
He was very amazed about some?products I shared with him and quoted Hosea 4:6 “My people perish for?lack of knowledge;” implying that the church needs knowledge on?insurance.
Other churches can learn from this example; why not invite an?insurance professional to give information to your members so that?they are equipped with knowledge.
Let me stress the fact that by virtue of the law of the land, everyone,?including church members, is required to take up some form of insurance?such as motor insurance for those who own vehicles.
There are also?other types of insurance that are very significant besides mandatory?ones, as will be elaborated below.
Other religions like Islam subscribe to some unique form of insurance?known as ‘Takafu’ which will be our subject in the near future.?In this discussion I will look at insurance from two angles in?relation to the church.
The first is on general membership that rides?on large numbers and the second is the church itself as a body or?institution.
From the general membership point of view, there are many issues that?affect each and everyone such as accidents, funerals and health.
Those?who own properties are not immune to perils that may damage their?treasured properties.
The law of large numbers or economies of scale, which apply?universally, comes to the fore.
There are many benefits that can be?accessed through a group which otherwise may not be attained?individually.
Of course there are some church members who by virtue of belonging to?other groupings such as places of work, clubs etcetera, subscribe to?some form of group insurance and can attest to the foregoing benefits.
Those who may not have any membership elsewhere are the reason for?this discussion.
What most of us do not realise is that insurance terms, tend to be?softer to a church set up by virtue of that implied trust bestowed by?the public.
Group schemes for example in motor insurance would attract lower rates?compared to conventional ones. Since the church has the numbers why?not take advantage of them to sign up such schemes.
A nominated church member can actually be appointed to manage all?insurance affairs of the church members and probably perform the?duties of a sales agent to an insurance company and will be subject to?earning a commission.
This in turn, will create employment.?I know that Catholic Church members are very much alive to this fact?and no wander they decided to create their own broking firm to handle?their insurance matters.
They have the numbers and their foot print is?across the country with numerous assets.
This helps them retain some income on their books and create?employment to their members or to the general populous. I cannot be?surprised if tomorrow they formed an insurance company.
Comments: webster@picz.co.zm or webster_tj@hotmail.com or on face book?search for Insurance Talk-Zambia page or call/text 0977 857 055?(The Author is a Chartered Insurer with ten years industry experience)